Investing
Century Aluminum, Lennar Dive into Wednesday's 52-Week Low Club
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October 3, 2018: Here are four stocks trading with heavy volume among 121 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 1.45 to 1, and on the Nasdaq, advancers led decliners by about 1.6 to 1.
Rite Aid Corp. (NYSE: RAD) dropped about 0.9% Wednesday to set a new 52-week low of $1.14. Shares closed at $1.15 on Tuesday and the stock’s 52-week high is $2.55. Volume was about 20% below the daily average of around 14.2 million. The company had no specific news and may be on track to close flat or a bit better.
Century Aluminum Co. (NASDAQ: CENX) traded down more than 17% Wednesday to post a new 52-week low of $9.85 after closing Tuesday at $11.90. The stock’s 52-week high is $24.77. Volume was about five times the daily average of around 1.9 million shares. The company had no specific news, but investors are wary of aluminum stocks following Norsk Hydro’s decision to close its smelter in Brazil.
Lennar Corp. (NYSE: LEN) traded down nearly 3% Wednesday to set a new 52-week low of $45.39 after closing at $46.77 on Tuesday. The stock’s 52-week high is $72.17. Volume was about three times the daily average of around 3.3 million. The company reported a beat on both profit and revenue this morning but lowered its forecast for the coming quarter.
Government Properties Income Trust (NASDAQ: GOV) traded down about 12.7% Wednesday and posted a new 52-week low of $9.39 after closing Tuesday at $10.76. The stock’s 52-week high is $17.21. Volume was more than five times the daily average of around 1.4 million. The company announced a proposed secondary offering of the roughly 25 million shares the company owns of Select Income REIT.
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